PENSECO FINANCIAL SERVICES CORPORATION
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Penseco Financial Services Corporation is a holding company of a group engaged in the provision of financial services. The registered business office of the company is located in Scranton, Pennsylvania.
The company assumes management and control functions to its subsidiaries; provides other administrative management activities, as well as consulting and investment services. It covers other related financial intermediation and credit intermediation services.
Penseco Financial Services Corporation is active and operational, through its subsidiaries, in the United States.
Penn Security Bank and Trust Company, one of the company’s listed subsidiaries, provides commercial and retail banking services to business, professional, and retail customers primarily in Lackawanna, Wayne, Monroe, and the surrounding counties, Pennsylvania.
Bank Holding & Holding Company
Description and history
PENSECO FINANCIAL SERVICES CORPORATION, which is headquartered in Scranton, Pennsylvania, was formed under the general corporation laws of the State of Pennsylvania in 1997 and is registered as a financial holding company. The Company became a holding company upon the acquisition of all of the outstanding shares of Penn Security Bank and Trust Company on December 31, 1997.
Penseco Financial Services Corporation operates as the holding company for Penn Security Bank and Trust Company, which provides various commercial and retail banking services to business, professional, and retail customers primarily in Lackawanna, Wayne, and Monroe counties, Pennsylvania. The bank offers various deposit products, including savings and demand deposit accounts, time deposits, and certificates of deposit. Its loan portfolio comprises real estate loans, commercial loans, and consumer loans. The bank also provides automated teller machine services, online banking, credit cards, active investment accounts, and trust department services, as well as various lending, depository, and related financial services.
The Bank operates in a competitive environment in which it must share its market with many local independent banks as well as several banks which are affiliates or branches of very large regional holding companies. The Bank encounters competition from diversified financial institutions, ranging in size from small banks to the nationwide banks operating in its region. The competition includes commercial banks, savings and loan associations, credit unions, other lending institutions and mortgage originators.
As of December 31, 2007, the Company employed 165 full-time equivalent employees.
Holding company of a group engaged in the provision of financial services
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Country address: UNITED STATES OF AMERICA